Capitalism as a Whole
Written by Malcolm Mungo When our country, America, claimed independence in 1776, as well as becoming a free country, we also became a capitalist country. Capitalism is the staple of our society, buying and selling goods and services - we couldn’t function without it. Capitalism is a very complex and interesting way of organizing society, with massive multi-billion dollar corporations, down to small family businesses. But what good is all this information? Well, since we live in a capitalistic society, it would make sense to understand what it is and how it works. One of the basic principles of capitalism is supply and demand. How does this work? If a product is in need, in other words, lots of people would benefit from it, then a retailer can come in and start selling this product. The seller will sell lots of this product since lots of people want it, which is demand. But if lots of people buy this product, the seller needs to have lots of that product, so they use their pro...